Analysts Bullish on Eldorado Gold as Skouries Project Hits Milestone

Eldorado Gold Corporation's stock has gained analyst support after achieving a significant milestone at its Skouries project in Greece. On September 8, 2026, the company produced its first copper-gold concentrate, marking the beginning of initial operations.

The Skouries project has seen substantial progress, with an ore stockpile exceeding 4,600,000 tonnes, equivalent to more than seven months of processing throughput. This allows Eldorado Gold to exercise early operating flexibility in terms of grade management and scheduling as the project advances toward commercial production.

Analysts at Stifel have increased their price target for Eldorado Gold to USD 70 from USD 65, reiterating a buy rating following their visit to the Skouries copper-gold mine. They highlight that first copper-gold concentrate produced on September 8, 2026 reinforces their view of a near-fully derisked flowsheet through to concentrate thickening.

RBC Capital has also raised its Eldorado Gold price target to USD 41 per share from USD 37, maintaining a Sector Perform rating. However, the company's profitability remains sensitive to gold prices, ramp-up costs, and capital expenditures associated with bringing the project to full commercial production.